Justin Sullivan
- Early Wednesday, Bloomberg reported that an unregistered block of SoFi Technologies (NASDAQ:SOFI) shares was offered overnight through JPMorgan (JPM) and Goldman Sachs (GS). Some 29.95M shares of the fintech company were priced at $6.10 each, the Fly on the Wall reported Wednesday.
- The reports didn't know the name of the seller or sellers.
- After reports that the Biden administration could unveil a plan to forgive $10K in student debt per borrower for individuals making less than $125K per year as soon as Wednesday, SoFi (SOFI) gained 1.2% in Tuesday trading. That small gain came after stock dropped more than 60% since the start of the year.
- In Wednesday premarket trading SoFi shares had risen some 3.2%, but have since pared their gain to 1.1%.
- Earlier this month, SoFi (SOFI) said SoftBank (OTCPK:SFTBY) (OTCPK:SFTBF) decided to sell some or all of the 83M of SoFi shares it holds. The Japanese tech giant, with a large investing arm, started selling some of those shares in early August.